Special Advisory: NCB Financial Group Limited (NCBFG)

October 21, 2020

NCB Financial Group Limited (NCBFG) has advised that in September 2020, the Company streamlined its Jamaican insurance business through the transfer of the insurance and annuities portfolios of NCB Insurance Company Limited (“NCBIC”), its wholly owned subsidiary in Jamaica, to fellow subsidiary Guardian Life Limited. Consequent on the transfer of the portfolios, NCBIC changed its name to NCB Insurance Agency & Fund Management Limited (NCBIA&FM), as the Company continues to provide pension fund administration and investment management services.

NCBFG has also advised that Vernon James, Managing Director and CEO – NCBIA&FM, will transition to NCBFG where he will assist in the execution of some strategic projects to be undertaken by the NCB Financial Group. This move will create a vacancy for the leadership position of NCBIA&FM and the search to fill this vacancy is underway. Additionally, Mr. James has tendered his resignation from the Board of Directors of NCBIA&FM effective October 31, 2020

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